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Mali holding seized Barrick gold at state-owned bank BMS, sources say

15 Jan 2025

By Giulia Paravicini and Portia Crowe (Reuters) -Mali’s military government is holding gold seized from Barrick Gold’s Loulo-Gounkoto mine site at state-owned Banque Malienne de Solidarite (BMS), two sources said, as the miner pursues plans to suspend its operations in the country. The move escalates an ongoing dispute between Barrick and Malian authorities, who, like …

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Libyan agency calls for halt to public sector appointments amid rising wage bill

15 Jan 2025

TRIPOLI (Reuters) – The Libyan state agency mandated to oversee government performance has called for suspension of public sector appointments and contracts due to an excessive wage bill. The Administrative Control Authority (ACA) said the number of public sector employees in Libya had reached 2,099,200, with salary costs totalling 372 billion Libyan dinars over the …

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South African rand, stocks surge after US consumer inflation data

15 Jan 2025

JOHANNESBURG (Reuters) -South African assets gained on Wednesday, after a key U.S. inflation report showed consumer prices rose slightly more than expected last month in the world’s biggest economy. At 1449 GMT, the rand traded at 18.7550 against the U.S. dollar, about 1% firmer than its previous close. The dollar last traded about 0.45% weaker …

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Nigerian inflation rises for fourth straight month in December

15 Jan 2025

ABUJA (Reuters) -Nigeria’s inflation rate rose for the fourth straight month in December, advancing to 34.80% in annual terms from 34.60% in November, data from the statistics agency showed on Wednesday. The agency said in a report that the uptick in December was due to increased demand associated with the festive period. Food and non-alcoholic …

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Ugandan shilling draws support from commodity flows

15 Jan 2025

KAMPALA (Reuters) – The Ugandan shilling firmed on Wednesday, boosted by inflows of hard currency from exporters of commodities like coffee, cocoa and gold, traders said. At 1030 GMT, commercial banks quoted the shilling at 3,689/3,699, compared to Tuesday’s close of 3,692/3,702. (Reporting by Elias Biryabarema; Editing by Bhargav Acharya)

Kenya turns to the UAE for railway funds after China cut financing

15 Jan 2025

By Duncan Miriri and Rachna Uppal NAIROBI/ABU DHABI (Reuters) – Kenya has started discussions with the United Arab Emirates to secure financing to complete a regional railway, President William Ruto said, after China cut infrastructure funding to the project. The railway connecting the Kenyan port of Mombasa with landlocked neighbours, as part of China’s Belt …

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Kenyan shilling steady against dollar, LSEG data shows

15 Jan 2025

NAIROBI (Reuters) – Kenya’s shilling was steady against the U.S. dollar on Wednesday, data from the London Stock Exchange Group showed. At 0923 GMT, the shilling traded at 129.25/129.75 per dollar, the same level as the close of trading on Tuesday. (Reporting by Hereward Holland)

Dollar treads water ahead of CPI, tariffs remain in focus

15 Jan 2025

By Laura Matthews (Reuters) -The dollar weakened against the euro on Tuesday but stayed near its highest level in more than two years as cooler-than-expected inflation data following last week’s strong jobs report made it hard to project the Federal Reserve’s next moves on interest rates. Data showed U.S. producer prices increased moderately in December. …

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